‘Trump lit the match and burned the house down’: Market chaos has fueled the rise of ‘finfluencers’ — here’s what you must keep in mind to avoid seeing your wealth go up in flames too

Influencers are no longer just shaping Americans' shopping habits and fashion choices — they're also playing a role in how people manage their money. And one type of influencer has become particularly popular: the “finfluencer.”

Short for "financial influencer," these creators break down complicated topics like investing, budgeting and wealth-building in everyday language — offering advice that feels a lot more like a chat with a friend than a seminar you have to sit through with a stale coffee in hand. They don’t just share textbook tips; they share their mistakes, their wins and their full financial roller coasters.

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“Trump lit the match and burned the house down, then handed you the fire extinguisher,” Tori Dunlap , a 30-year-old financial influencer, shared with her 2.4 million TikTok followers, capturing the sense of chaos many feel as they navigate today's markets.

While it’s never been easier to swipe through financial advice, relying solely on social media for money decisions can come with real risks. Unlike certified financial planners, finfluencers aren't held to a fiduciary standard — and their advice, however relatable, isn’t always backed by professional expertise.

The coziness and the drawback

For Americans who find themselves burdened by conventional financial institutions—particularly when their budgets become more constrained—the act of following relatable voices on social media can serve as a simple initial move towards developing healthier monetary practices.

A notable figure in this realm is Jeremy Schneider, who goes by @personalfinanceclub on Instagram. Early last month, he shared an experience where he lost around $250,000 over a span of only 48 hours following President Trump’s tariff announcements which caused market instability. Rather than hiding behind a facade of normalcy, he chose honesty—demonstrating to his audience that such fluctuations should not lead to anxiety but rather reinforce the importance of maintaining one’s investment strategy.

“I wanted to put my face on my page so that people knew I’m still here, the sky’s not falling,” he told the Wall Street Journal .

Hearing about these lived experiences online doesn't just feel more authentic — it's also cheaper. Traditional financial advisors often come with hefty hourly rates or ongoing retainer fees. In a time when cutting back is the norm, paying for professional advice can feel like a luxury that some can't afford.

Nearly one in three U.S. adults (30%) sought financial advice online in 2023, according to a recent financial survey Younger Americans were particularly prone to turning to social media platforms for information, yet depending on such unstructured sources poses considerable dangers.

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Avoiding costly mistakes

Finfluencers have made money talk feel less intimidating, but when it comes to big financial decisions, sometimes you need more than a viral post. Certified financial planners are trained to create strategies that actually fit your goals, your risk tolerance and where you are in life — not just whatever's trending on your For You page.

Relying on a financial influencer is more prevalent—and perilous—than you may realize. As per a Credit Karma survey, 40% of Gen Z and 30% of millennials say they’ve made questionable money moves after acting on advice they found online. In fact, 37% of Gen Z and 25% of millennials ended up in real trouble — like getting hit with an IRS audit — after taking that advice.

A professional financial advisor can help you build a comprehensive plan that considers factors like taxes, insurance, retirement savings and investment diversification. They’re also legally bound by a fiduciary duty , meaning they’re required to act in your best financial interest instead of just suggesting what worked for them personally.

Instead of reacting emotionally to short-term swings, a good advisor can help you stay focused on the bigger picture and avoid mistakes that could cost you in the long run. While professional advice often comes with a fee, it can end up saving — or making — you more money over time.